Dos décadas perdidas: los ochenta y los noventa

The crisis of two decades that affected the Ecuadorian economy was based on exogenous factors, endogenous factors, and the economic policy implemented. The growth model applied in the country between 1950 and 1980 showed its limits, reaching its exhaustion in the early eighties, when the external bottleneck occurred due to the decrease in the international price of oil and, above all, to the paralysis of the financing flows that gave rise to the Latin American debt crisis. Until then, the model had been based on import substitution industrialization, based on an increasing demand for foreign exchange for the import of machinery, equipment, supplies, raw materials, technologies, etc., which were provided by the oil boom and external indebtedness. Starting in 1972, Ecuador began to export oil in significant quantities, so that hydrocarbon became the main source of foreign currency, the amount of which has fluctuated significantly, especially due to the volatility of the international price of a barrel of oil. The "new" wealth, undoubtedly, had generated important quantitative and qualitative changes, although there were also delays in making the necessary adjustments.

• Autor principal: Naranjo Chiriboga , Marco (author)
• Format: article
• Idioma: spa
• Publicat: 2004
• Matèries: factores endógenos; factores exógenos; política económica; divisas
• Accés en línia: https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/236